Michael Jordan has Three Weeks to purchase Bobcats
After a horrible stint with the Washington Wizards, Michael Jordan decided to leave the franchise. One of Jordan’s best friends happens to be Robert L. Johnson. Johnson is one of the most successful black businesspeople in history. For quite a few years, he was a billionaire.
In 2002, Robert L. Johnson applied to become the owner of the NBA franchise awarded to Charlotte, North Carolina. That team would end up becoming the Charlotte Bobcats. Started in 2004, the franchise struggled early on. But, starting in 2006, the franchise made moves to become relevant.
Michael Jordan brought a stake of the team during the summer of 2006 and he also took over the role of President of Basketball Operations. Initially, it looked as if Jordan did not know what he was doing, but he has made some very wise decisions. Last season, the Bobcats were having the best season in their young history. For most of the season, they were in the playoff race, but things fell apart late.
Despite missing the playoffs, there was a lot of interest surrounding the team and the future looked bright. After being with the team for five years, Johnson was looking to sell the team to the highest bidder. This risked the chance of the Charlotte Bobcats no longer being a black-owned team. But, just as soon as the sale of the team was announced, Michael Jordan expressed interest in purchasing the team.
After Jordan made his offer to Johnson, all discussion about the sale of the Bobcats ceased. Later during the summer of 2009, another ownership group expressed interest in purchasing the team. But, as the season approached closer and closer, Johnson remained as the owner of the team. Now, in the absolute middle of the season, Robert Johnson still wants to sell the team. He had never stopped any talks of selling the team.
Right now, the Charlotte Bobcats are having the best season in its franchise history. Because of that, it would be safe to assume that Johnson would want to keep his stake in the team. Regardless of the team’s record, Johnson is ready to move on. Out of respect to Michael Jordan, he informed him of his plans of selling the team. He is giving Jordan the remainder of the month to come up with the necessary resources to take the team.
If Michael Jordan truly wants to own the Charlotte Bobcats, he will have to come up with the funds in a little over three weeks.
[...] Read more from the original source: Michael Jordan has Three Weeks to purchase Bobcats « TBT: The Magazine [...]
How to Jump Higher in Basketball » Blog Archive » Michael Jordan has Three Weeks to purchase Bobcats « TBT: The Magazine
February 7, 2010